IIROC Sanctions Jeffrey Callaway

22-0092
Type: Enforcement Notice> Decision

Contact:

Richard Korble
Vice-President, Western Canada
Telephone:
Email:
Julia Mackenzie
Public Affairs Specialist
Telephone:
Email:

June 14, 2022 (Calgary, Alberta) – On June 7, 2022, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Jeffrey Callaway.

Mr. Callaway admitted that he engaged in personal financial dealings with clients.

Specifically,  Mr. Callaway admitted to the following violation:

  1. On or about July 2017 to October 2017, Mr. Callaway engaged in personal financial dealings with clients when he received contributions to his political campaign from fifteen clients, contrary to Dealer Member Rule 43.1.

Pursuant to the Settlement Agreement, Mr. Callaway agreed to the following penalty:

  1. a fine in the amount of $20,000;
  2. a three-month prohibition on any re-approval with IIROC; and
  3. six months close supervision upon any re-registration with IIROC.

Mr. Callaway also agreed to pay costs in the amount of $3,000.

The Settlement Agreement is available at:                                                                                                   

Callaway, Jeffrey – Settlement Agreement

The Hearing Panel’s decision will be made available at  www.iiroc.ca.

IIROC formally initiated the investigation into Mr. Callaway’s conduct in September 2019. The violation occurred while he was a Registered Representative with the Calgary branch of Canaccord Genuity Corp., an IIROC-regulated firm. Mr. Callaway is no longer a registrant with an IIROC-regulated firm.

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All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website.

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.

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Other Notices associated with this Enforcement Proceeding: